1. Opening Activities

2. New Business

The Auditors have been using $ 5,000 as the capitalization threshold for a number of years. Capitalization is used for Depreciation purposes in connection with Audited Financial Reporting only and does not impact budget status. The auditors suggest that the motion be made retroactive to July 1, 2006. Fixed/ Capital Assets used in Governmental activities are not financial resources and therefore not recorded as Assets in Governmental Funds but are reported in the Statement of Net Assets in the Annual Audit.

Fiscal Accountant from WCSD has been attending tax collection meetings. The Tax collectors indicate that they have not received an increase in many years. They have expressed their desire to have the Business administrator board member (s) to attend their next meeting on December 10th, 2007 to discuss the issue.

The attached document is the proposed contingency transfers from approved items over the past month, requesting the committee move this to the full board to approve the transfers. for items approved at prior board meetings, plus any additional items from Personnel, Full Time Secretary: Transportation & SSELC, Language Arts teacher, Maintenance position.

Update to bepresented by Justin Tech/ Pat Gallagher at the request of the board includes current cost, estimated total cost and incremental cost. And economies gained.

3. Old Business

4. Informational Items

Update many of the municipalities are leaning toward eliminating the tax due to the change in the State Statute regarding Per Capita Assessors, Met with Warren City Manager as well.

Since the option to receive pay school year employees over 26 pay periods is contractual and only applies to certificated staff, our auditors believe that we are already in compliance. We will be verifying that our existing actions comply with the regulations.

Allocation requests and Beyond Allocation requests have been submitted to all Building Principals, most have returned their requests to the Business Office.

Proposing holding the initial budget workshop on November 6, 2007 the Curwen Building front conference room at 6:PM

The new regulations take effect January 1, 2009 requiring increased employer responsibility, Necessary Decisions include: Common Remitter, Third Party Administrator, Written Plan. Proactive Notice and increased accountability. The district has received many inquiries from TPA’s. Assessment is in process regarding which TPA’s to consider.

5. Closing Activities